The U.S. Export-Import Bank is in the process of providing a $1 billion loan to PEMEX (the Mexican state oil company.) This is significant because, due to the recent BP oil spill, the Obama administration enforced a hold on U.S. deep-water drilling that is in effect until Nov. 30. The US bank here has said that the hold does not affect their activity in such matters. The use of this money is going to be used for both offshore drilling and a facility to finance sales to U.S. small businesses. An important subject in this matter that the article does not mention though is the NAFTA because it makes trade with Mexico free of tariffs as well as a number of other trade barriers that the U.S., and private companies within, face when dealing with other countries overseas (Saudi Arabia for example.)
Alex Davis
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